FAFSA Basics
What does FAFSA stand for?
Free Application for Federal Student Aid
What is a direct cost of college?
Tuition, housing, or meal plans
What type of financial aid is considered “free money”?
Scholarships and grants
Who uses the information submitted on the FAFSA?
Colleges and state governments
What is the only mammal capable of true flight?
A) Flying squirrel
B) Bat
C) Penguin
D) Ostrich
B) Bat
In what month does the FAFSA open each year?
October
What is an indirect cost of college?
Books, transportation, or personal expenses
What is the main difference between grants and scholarships?
Grants are usually need-based; scholarships are usually merit-based.
What does SAI stand for?
Student Aid Index
In the game of chess, which piece can only move diagonally?
Bishop
Why should students submit the FAFSA as early as possible?
Some aid is first-come, first-served.
Which costs do students usually have more control over?
Indirect costs
Name one federal grant mentioned in the lesson.
Pell Grant, FSEOG, TEACH Grant, etc.
Complete the sentence: The lower your SAI, the ______ need-based aid you may receive. (MORE/LESS)
More
Which planet in our solar system has the most moons?
Saturn
How often do students need to complete the FAFSA?
Every year they are in school.
Why is net price more important than sticker price?
Net price is what you actually pay after grants and scholarships.
What are the three types of money used to pay for college?
Free money, your money, and borrowed money
What is included in the FAFSA Submission Summary?
Aid estimates, FAFSA answers, and school information
What is the smallest country in the world?
A) Monaco
B) Vatican City
C) Luxembourg
D) Malta
B) Vatican City
What document do students receive after submitting the FAFSA?
FAFSA Submission Summary
How can community college credits help save money?
They reduce the number of expensive four-year college credits needed.
Why should scholarships and grants be accepted before loans?
They do not need to be repaid.
True or False: Your SAI is exactly what your family will pay for college.
False
What popular snack food was accidentally invented in 1853?
Potato Chips